Luxury-Marketing Insights: Wealthy Consumers Flock to Target but Love the Lord & Taylor Experience, Prefer Apple for Electronics, Staples for Supplies

U.S. shoppers earning at least $150,000 a year rank 16 mainstream retailers in the 2013 Luxury Consumer Experience (LCEI) survey jointly conducted by the New York-based Luxury Institute and Customer Culture Institute. Respondents evaluated national and regional department store brands, as well retailers of office supplies and electronics.

Among national retailers, Lord & Taylor earns the highest (8.00) LCEI score, and ranks first on all seven subcomponents, which include shoppers’ evaluations of staff, stores and degree of overall satisfaction. Lord & Taylor was visited by just 14% of surveyed shoppers in the past year but those who did rave about their experiences. Target, the most popular chain, saw visits from 66% of wealthy shoppers but earns a 6.90 LCEI score.

In electronics, Apple‘s LCEI score of 8.40 tops Best Buy‘s 6.97. Apple also enjoys nearly unanimous (98%) agreement from shoppers that they will come back to Apple retail locations in the future, compared to 92% for Best Buy.

Staples (7.31) is the clear winner in office supplies, ranked ahead of Office Depot (7.05) and OfficeMax (7.00).

Iowa-based Von Maur receives the highest LCEI score (8.61) among regional retailers and the highest of all 16 brands covered. Furthermore, 100% of Von Maur’s wealthy customers plan to shop there again.

"Wealthy consumers don’t confine their shopping to luxury retailers. In fact, they spend much more with mainstream brands," said Luxury Institute and Customer Culture Institute CEO Milton Pedraza, in a news release. "As in luxury, brands that differentiate themselves with a customer centric culture are the ones that rank highest."

PR Biz Update PR Agency News PR People Marketing Trends
Asian Americans influence, Betty Lo, cultural influence, cultural nuances, diverse ethnicities, economic influence, growth strategies, IW Group, Marketing, Marketing strategy, multicultural community, Nielsen report, Nita Song, Pr, Public relations
Understanding Market Segments: Asian Americans Flex Consumer Influence Across Regions, Nielsen Study Finds

Asian Americans’ impact and influence are shifting and growing, according to...

Angus Reid Forum, Centennial College, CivicAction, health and wellness, Marketing, Millennial stress, millennial workforce, Pr, Public relations, student initiative, Up All Night, Workplace Champions Council, workplace mental health
Employers, Wake Up: Millennials Are Stressed and It's Keeping Them Up All Night, New Academic Study Reveals

Millennials who are currently entering or adjusting to the workforce are...

A.T. Kearney, apparel brands, apparel retailers, consumer connection, cross-generational marketing, Hana Ben-Shabat, Helen Rhim, innovative retail strategies, Marketing, Marshal Cohen, Millennials targeting, Pr, Public relations, purchasing power, The NPD Group
Beyond Millennials: Study Points Retail PR Toward New Ways to Connect with Different Customer Segments

Retailers and Apparel Brands Should Target Customers on Multiple Dimensions With...

Thought Leaders On Deadline
Jo Trizila (1)
Not the Vacation I Planned: Tragedy Transitions Vacationing PR Pro Into Media Relations Juggernaut

By Jo Trizila, President and CEO, TrizCom PR and Pitch PR...

B2B communications, content creation, content curation, Content marketing, content marketing effectiveness, content message, content repurposing, global content, IBA International, Marketing, Pr, Public relations, Simon Woolley
Content Across Continents: Maximizing the Reach of Your B2B Communications

By Simon Woolley, Engagement Specialist, IBA International Here’s the content conundrum...

Dmitry Dragilev, effective pitching, getting press, JustReachOut, Marketing, Media Relations, pitching insights, pitching journalists, Pr, PR team, PR tips for startups, Public relations, startup PR
PR Tips for Startups: 7-Step Proven System to Get Press

By Dmitry Dragilev, Founder, JustReachOut Having worked in the PR industry...